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Property Transfer Assessments

ALPHA-OMEGA ENVIRONMENTAL MANAGEMENT
In the commercial real estate market, environmental site assessments (ESAs) are a great way to protect your investment. At a minimum, a Phase I ESA is typically required by lenders to protect themselves and their clients from environmental liability. Buyers and managers of commercial—and in some cases residential—properties can seek liability protection under CERCLA using three legal defenses; the innocent landowner defense, the bona fide prospective purchaser defense, and the contiguous property owner defense. These defenses were established under the Federal Brownfields Law to promote revitalization of formerly developed areas that may contain contaminants.

The standard for conducting Phase I ESAs for many years has been dictated by the American Society for Testing Materials, specifically, ASTM standard E1527 "Standard Practice for Environmental Site Assessments: Phase I Environmental Site Assessment Process." EPA will soon promulgate its “all appropriate inquiries” (AAI) rule, which will govern the way future ESAs are conducted. When the AAI rule takes effect, buyers will have a new set of guidelines to follow or risk losing liability protection. Should a significant environmental finding be suspected during the Phase I ESA, additional phases may be performed: Phase II – discovery; Phase III – corrective action design; and Phase IV – corrective action implementation.

The key to conducting a successful ESA is providing the proper personnel throughout the entire project. Personnel should not only know the guidelines established for a Phase I but have a keen understanding of what may be required in subsequent phases. Personnel should also be aware of the overall business risk involved which goes well beyond just CERCLA liability. Our staff is well versed in all phases of the ESA process having been involved with ESAs throughout the United States and on four continents. Services that we provide beyond what is covered under CERCLA include; asbestos surveys, mold surveys, wetlands delineations, PCB investigations, lead-based paint surveys, and radon studies. Alpha-Omega is committed to providing the personnel that have hands on experience conducting all phases of the environmental site assessment process. We also have the communication skills to accurately convey the business risk associated with any property to our clients.

In addition to ESAs, Alpha-Omega provides property condition assessments (PCAs) to evaluate business risk relating to structural issues. A PCA goes beyond a typical building inspection in that it looks at long-term property management issues rather than just the conditions at purchase. A PCA will not only indicate problems requiring immediate expenditures, but will provide a schedule with costs for maintenance and replacement of items given common uses at similar properties. As with ESAs, ASTM has established guidelines for conducting PCAs in their standard E2018 “Standard Guide for Property Condition Assessments: Baseline Property Condition Assessment Process.” A PCA can be a valuable tool in establishing long-term life cycle costs in comparing potential properties. When conducting PCAs, Alpha-Omega provides a professional engineer, certified hazardous materials manager, and former building inspector to conduct site reconnaissance. This comprehensive approach is invaluable in establishing the overall business risk for prospective properties. Typical property transfer services provided include: